The price of Bitcoin (BTC) has seen a destructive week, as the price crashed 52% on one single day this week. One of the most massive crashes witnessed since the existence of Bitcoin.
Not only has Bitcoin been hitting hard during the week, but equity markets have also seen their worst week since 2008, and other safe havens gold & silver have seen a selloff. Cash is king, is the idea. However, are we continuing dropdowns, or are we temporarily done?
The volatility of all markets has been skyrocketing during the week, as the VIX (Volatility Index in the USA) is reaching levels not seen since Bitcoin was invented. Similarly, Bitcoin has seen a drop from $7,500 to $3,750, after which the price jumped up with $2,000 to $5,750 in the 24 hours after.